Crypto Expert Elon Musk Picks These 3 Meme Coins This 2023 New Year - Our Picks
Here’s a glimpse of crypto expert Elon Musk’s top meme coins this new year. Continue reading to find a detailed review of each meme coin.
Dogecoin - Elon Musk’s favorite crypto is certainly a buy now.
Toon Finance - TFT had the hottest and most searched presale of the year.
Shiba Inu - The Shiba Inu Metaverse is gaining high momentum in the market.
A Closer Look At The Crypto Expert Elon Musk Picks These 3 Meme Coins This 2023 New Year
Elon Musk is a crypto evangelist who has always been an influential voice in the space. Musk’s tweets on Dogecoin in 2021 pushed the meme coin to new highs. He has also expressed interest in diversifying Twitter’s revenue streams and has plans to incorporate cryptocurrencies as a payment method. Being a billionaire and an ardent advocate of cryptos, Musk’s views and choices have significantly impacted crypto prices.
Memecoins can be an interesting investment option if you’re looking for something different than traditional cryptocurrencies. Elon Musk has picked these 3 meme coins this new year, and let’s see why.
Dogecoin (DOGE)
Speaking of Elon Musk’s top meme coin choice for 2023, Dogecoin is always on top of the list as he’s plugged it more than any other crypto. It is a decentralized, peer-to-peer digital currency that helps users send money online quickly and easily. It has become an ideal choice for quick payments as it offers faster transaction speed and low fees. Musk emphasized this by stating that DOGE is a better option than Bitcoin when it comes to daily transactions. The meme coin was even adopted by companies like Tesla and Dallas Mavericks as a mode of payment, pushing its price to new all-time highs in 2021.
Musk has also announced that SpaceX would launch a satellite named after the meme-inspired cryptocurrency. The mission would also be paid for in DOGE, making it the first crypto in space.
Dogecoin again came to the limelight after the prolonged crypto winter after Musk’s Twitter acquisition. Crypto enthusiasts believe that DOGE will have more use cases in the coming years. In 2022, Mark Cuban also tweeted out an idea to defeat bots and spam by introducing a form of staking with Dogecoin, for which Musk reaffirmed his support. He also repeatedly promoted the popular meme coin on Twitter, causing it to rise by as much as 8,000% at its peak. His statement that Dogecoin would become the global new earth currency encouraged several investors to add the crypto to their investment portfolio.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Toon Finance (TFT)
Toon Finance has marked its position as one of the best meme coins within a few weeks of its launch, thanks to its unique blend of crowdfunding, staking, and trading solutions. Elon Musk picked this meme coin in 2023 after he purchased Twitter. Inspired by adorable, cuddly toon characters, it sold over $3M worth of TFT coins within the first week of its launch.
Toon Finance is a decentralized exchange application platform designed to address the externality surrounding the P2E gaming demand. It ensures this by maintaining a P2E metaverse protected by SHA256. The team is planning to release P2E options on their DEX platform with high APY and ROI. The meme coin also has an ecosystem with tons of cool artwork and characters that would make for an excellent NFT experience once they drop the new NFTs. Toon Finance is gradually emerging in the Web3 sphere and strives to simplify decentralized finance by hosting a one-stop solution for trading, exchanging, and bridging cryptocurrencies.
The memecoin has a very active community that cannot stop raving about it on social media platforms and virtually everywhere. By leveraging blockchain technology, a decentralized exchange model, and with alluring gaming assets, Toon Finance is revolutionizing the digital asset trading market.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Shiba Inu (SHIB)
Since its introduction to the crypto sphere, Shiba Inu has grown at an astounding rate gaining attention from investors across the globe. Musk’s support for meme coins like DOGE has been a positive catalyst for the growth of SHIB too. But Shiba Inu stands out among its competitors as one of the best meme coins, as its use cases are on a growth trajectory both as a transactional currency and in the emerging metaverse space.
The team has numerous plans to make the SHIB ecosystem more robust and valuable. They have designed a layer-2 solution called Shibarium that would help in scaling the network, making it ideal for everyday payments. With its launch, transaction costs would be significantly lowered, and there would be a rapid increase in its adoption rate.
Furthermore, in a bid to expand the utility of SHIB tokens, the crypto has introduced a Metaverse, giving Shiba Inu a stronger foot in the fastest-growing market. The metaverse would attract a lot more people as SHIB NFT gaming would gain traction. All these factors bode well for Shiba Inu and would likely push its price and value in 2023 and beyond.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Crypto expert Elon Musk picked these 3 meme coins for the new year as they have numerous developments in the pipeline and massive upside potential. Meme coins could be a lucrative investment option when handled carefully. But before making any decisions, it is important to note that these coins are highly volatile and can lose their value if not managed strategically.
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